# Opec+ holds December oil output targets steady as Iran war disrupts supply | The National

> OPEC+ kept December targets at about 31 million barrels per day for its seven core members, matching September levels. The Strait of Hormuz has been effectively shut since the US-Iran conflict began on February 28, and Brent rose 2.4% to $117.64 on Friday. October saw the highest monthly count of commercial vessel attacks in the war.

- Date: 2026-11-01 · published 2026-11-01T18:08:37.568Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/29369-opec-holds-december-oil-output-targets-steady-as-iran-war-disrupts-supply-the
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Holding quotas while Hormuz flows remain blocked keeps the crude market tight, supporting high diesel and fuel costs for feed transport and processing. Price direction stays supported by the war premium.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-04-03 | [Opec+ agrees to stick to oil output targets as members pledge voluntary cuts    \| The National](https://feedsoft.ai/events/36324-opec-agrees-to-stick-to-oil-output-targets-as-members-pledge-voluntary-cuts-the.md) | +7.4% | +1.0% |
| BRENT | 2021-11-04 | [Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply \| The National](https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply.md) | +1.5% | -15.1% |
| BRENT | 2023-10-04 | [Opec+ sticks to current output policy after oil price rally \| The National](https://feedsoft.ai/events/33522-opec-sticks-to-current-output-policy-after-oil-price-rally-the-national.md) | -3.8% | -6.0% |
| BRENT | 2023-01-19 | [Opec has more 'market power' as oil supply concerns return, Goldman Sachs says \| The National](https://feedsoft.ai/events/37957-opec-has-more-market-power-as-oil-supply-concerns-return-goldman-sachs-says-the.md) | +1.4% | +0.4% |
| BRENT | 2024-03-04 | [Saudi Arabia and the UAE among Opec+ members extending oil output cuts \| The National](https://feedsoft.ai/events/31114-saudi-arabia-and-the-uae-among-opec-members-extending-oil-output-cuts-the.md) | -1.2% | +3.1% |
| WTI | 2023-04-03 | [Opec+ agrees to stick to oil output targets as members pledge voluntary cuts    \| The National](https://feedsoft.ai/events/36324-opec-agrees-to-stick-to-oil-output-targets-as-members-pledge-voluntary-cuts-the.md) | +5.4% | -0.0% |
| WTI | 2021-11-04 | [Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply \| The National](https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply.md) | +0.5% | -17.6% |
| WTI | 2023-10-04 | [Opec+ sticks to current output policy after oil price rally \| The National](https://feedsoft.ai/events/33522-opec-sticks-to-current-output-policy-after-oil-price-rally-the-national.md) | -3.7% | -8.8% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2026/11/01/opec-holds-december-oil-output-targets-steady-as-iran-war-disrupts-supply/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.